Earnings Call Summary | JDE PEETS N.V.(JDEPF.US) Q4 2023 Earnings Conference
Earnings Call Summary | JDE PEETS N.V.(JDEPF.US) Q4 2023 Earnings Conference
For 2023, the company reported an overall organic sales growth of 3.9% and an adjusted EBIT growth of 1.1%; without Russia's performance, the growth would have been over 6%.The following is a summary of the JDE Peet's N.V. (JDEPF) Q4 2023 Earnings Call Transcript:
以下是JDE Peet's N.V.（JDEPF）2023年第四季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
JDE Peet's noted an organic sales growth of 4.3% for the second half of 2023 and an increase in adjusted EBIT by 5.5% organically.
The company reduced net debt and achieved a net leverage of 2.7x, generating €0.5 million in free cash flow in the 2nd half of 2023.
For 2023, the company reported an overall organic sales growth of 3.9% and an adjusted EBIT growth of 1.1%; without Russia's performance, the growth would have been over 6%.
The underlying earnings per share for 2023 was €1.51, with a net debt decrease of €160 million.
The company expects a mid-single digit organic growth in adjusted EBIT for the second half of 2024, and a low single-digit growth for the first half.
The net leverage is projected to be around 3x by end of 2024, with free cash flow expected to exceed the 2023 level.
JDE Peet's指出，2023年下半年的有机销售增长了4.3％，调整后的息税前利润有机增长了5.5％。
该公司减少了净负债，实现了2.7倍的净杠杆率，在2023年下半年创造了50万欧元的自由现金流。
该公司报告称，2023年的整体有机销售增长3.9％，调整后的息税前利润增长1.1％；如果没有俄罗斯的表现，增长将超过6％。
2023年的基础每股收益为1.51欧元，净负债减少1.6亿欧元。
该公司预计，2024年下半年调整后的息税前利润将实现中等个位数的有机增长，上半年将出现较低的个位数增长。
预计到2024年底，净杠杆率将达到3倍左右，自由现金流预计将超过2023年的水平。
Business Progress:
业务进展：
JDE Peet's is in the process of a transformation with 5 operating facilities closed, SKU count reduced by over 20%, and workforce reduced by 10% by the end of 2023.
The company doubled investment in development areas such as working media, R&D, product innovations, sustainability, and digital/e-commerce capabilities.
In line with sustainability efforts, JDE Peet's responsibly sourced green coffee increased from 21% in 2020 to 98% in 2023, reducing greenhouse gas emissions by 9.3% in 2023.
Plans are in place to conclude two transactions in Q1 2024, one with Marata's coffee and tea in Brazil and a global CPG license of Caribou Coffee.
Business expansion in the U.S. market, replicating their European aluminum capsule agenda, is underway.
The company is anticipating a recovery in the coffee industry post-pandemic, based on observed consumer behavior.
A proposal to the AGM in May to pay a dividend of €0.70 per share for the full year 2023 has been made by the board.
JDE Peet's正在进行转型，到2023年底，关闭了5个运营设施，SKU数量减少了20％以上，员工人数减少了10％。
该公司在工作媒体、研发、产品创新、可持续发展和数字/电子商务能力等开发领域的投资翻了一番。
为了实现可持续发展，JDE Peet的负责任采购的绿色咖啡从2020年的21％增加到2023年的98％，在2023年减少了9.3％的温室气体排放。
计划在2024年第一季度完成两笔交易，一项涉及马拉塔在巴西的咖啡和茶，以及Caribou Coffee的全球CPG许可证。
美国市场的业务扩张正在进行中，复制了他们的欧洲铝胶囊议程。
根据观察到的消费者行为，该公司预计咖啡行业将在疫情后复苏。
董事会已向5月的股东周年大会提议，在2023年全年派发每股0.70欧元的股息。
More details: JDE PEETS N.V. IR
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